(Ecofin Agency) - In a release published on May 31, 2019, Bank of Ghana indicated that it revoked the licences of 347 insolvent microfinance institutions to safeguard the financial sector's stability.

According to the central bank, 192 of the institutions concerned are still in activity while 155 have already ceased operations. It added that the licences of 39 microlending institutions have also been revoked.